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DISRUPTING BUSINESS
9
6
157
9
32
64
2
35 Iwi
organisations650+Māori
leaders
105Māori Trusts
throughout Aotearoa
Clarityaround what to
focus on
Confidence that they
can actually achieve it
Capability and
Communication systems needed
Execution support to actually
Carry it out
WHO WE HAVE WORKED WITH
2
2
Who we have worked with...
We work with Māori Trust leaders who are frustrated with the lack of progress in their Trust and the lack of outcomes for whānau. They often say we provide them with the:
DO YOU WANT THE SLIDESgo.twh.co.nz/nman
World’s largest taxi company owns no taxi’s
World’s largest media company creates no content
World’s largest accom provider owns no real estate
World’s largest retailer has no inventory
What makes an industry ripe for disruption?
Complacency: This is the biggest sign that disruption is on the way. ● It has grown complacent from past successes● It has lost touch with its customers● It doesn’t take new entrants seriously● The business model is out of date.
● Feb 2017● 70,000 Tax professionals using IBM Watson AI● 74,000 pages of the federal tax code and
thousands of tax-related questions
Big Company Audits
Due Diligence
Crowdsourced Consulting
Accountancy Top 11 Challenges● Compliance fees are dropping fast, approximately, 20% in the last 3 years● Fee commoditisation and packaging up isn’t the answer to everything● Bookkeepers are being armed with the tools to really threaten Accountants● Clients are less loyal, more likely to sue and more mobile than ever● Clients can’t always afford Value Added Services● Finding Good staff is hard work and their wages keep climbing● Outsourcing is the new trend and BUZZ Word in the industry● We Accountants are being told that the majority of our revenue needs to come from
Value Added Services● Cloud Technology is changing the industry faster than expected and clients are becoming
more self sufficient● Tax simplification and the IRDs Business Transformation Programme is further
threatening future compliance revenue● As Accountants in many cases we are actually not great business advisors and have never
owned a business other than an accounting practice
Ideas1. OPTIMISATION - improving the core
business2. INNOVATION - innovating your business
model
OPTIMISATIONimproving the core business
REAL TIME ACCOUNTING● Offers information snippets' to clients, helping them find out
what’s happening in their business before it happens
● Value add services that help● Prices projects upfront● Visits and calls on systematic basis● Follows up on every opportunity● Ask great questions
○ Why?○ What's the first domino?○ What is the fastest, easiest, low cost way to do …….○ Who○ What do you need to say ‘No’ too
INCREASE THE SIZE OF THE PURCHASE
● ‘Would you like fries with that?’
○ What additional services could you offer that solves your clients problems
INCREASE THE FREQUENCY THAT THEY PURCHASE
● ‘Create special offers or limited-time coupons’
○ Like a seasonal sale or introductory offers for new products.
ACQUIRE MORE CUSTOMERS● Predictable leads generation● No more cold calling● Educate customers of your value● Automation - once set up low cost
○ James = for every $1 spent = $14 profits
DO YOU WANT 50% FUNDING FOR COACHING, TO ASSIST YOU TO IMPLEMENT
THESE INTO YOUR BUSINESS
go.twh.co.nz/nman
INNOVATIONinnovating your business model
DO YOU WANT 50% FUNDING FOR COACHING, TO ASSIST YOU TO IMPLEMENT
THESE INTO YOUR BUSINESS
go.twh.co.nz/nman
DO YOU WANT THE SLIDESgo.twh.co.nz/nman